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研報掘金丨華創證券:港股市場紅利資產表現亮眼,建議投資者關注騰訊、中國春來等低估值和高股息公司
格隆匯 05-14 09:44

華創證券研報指出,近期,港股市場紅利資產表現亮眼,尤其在證監會與港方深化滬深港通機制合作的政策背景下,南向交易預期增強,紅利板塊短期內交易活躍度可能提升,長期看港股流動性將獲得正面影響。現有紅利税政策下,內地個人與機構投資者面臨較高税率,最高達28%,而香港賬户投資者税率更低,這成為影響港股通投資吸引力的因素之一。若港股通紅利税政策得到優化,特別是税率降至與香港賬户投資者相近的水平(約10%),將直接利好內地投資者,顯著降低其税負,2024年預估可節省約250億元税額,極大提升港股紅利資產對南下資金的吸引力。此政策變動不僅短期可能提振高分紅股票交易,長遠看更有利於增強港股市場整體流動性。在此背景下,港股傳媒互聯網板塊因其步入高質量發展階段,利潤與現金流改善明顯,分紅比例提升,紅利屬性凸顯,一旦紅利税下調,內地港股通投資者將享受更高的税後股息率,進一步增強該板塊的投資價值。綜上所述,建議投資者關注港股傳媒互聯網板塊中高質量發展且分紅穩定的公司,如騰訊控股和新華文軒,同時留意高教板塊的紅利潛力,推薦中教控股、中國科培、中國春來、網龍及中國東方教育等,這些企業結合了穩定增長、低估值和高股息的特點,有望從潛在的紅利税優化中顯著獲益。

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